Ceragon Networks (NASDAQ:CRNT) Director Efrat Makov Sells 5,000 Shares

Ceragon Networks Ltd. (NASDAQ:CRNT) Director Efrat Makov sold 5,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $2.99, for a total transaction of $14,950.00. Following the completion of the transaction, the director directly owned 58,950 shares in the company, valued at $176,260.50. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Efrat Makov also recently made the following trade(s):

• On Friday, May 22nd, Efrat Makov sold 6,667 shares of Ceragon Networks stock. The shares were sold at an average price of $2.65, for a total transaction of $17,667.55.

Ceragon Networks Trading Up 0.3%

Ceragon Networks stock opened at $3.00 on Tuesday. Ceragon Networks Ltd. has a 1-year low of $1.82 and a 1-year high of $3.29. The firm has a market capitalization of $272.67 million, a price-to-earnings ratio of -150.00 and a beta of 1.35. The firm’s fifty day moving average price is $2.63 and its two-hundred day moving average price is $2.35.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. The firm had revenue of $85.00 million for the quarter. On average, research analysts forecast that Ceragon Networks Ltd. will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in shares of Ceragon Networks by 13.7% during the first quarter. Renaissance Technologies LLC now owns 214,500 shares of the communications equipment provider’s stock valued at $463,000 after purchasing an additional 25,800 shares in the last quarter. Aristides Capital LLC lifted its position in shares of Ceragon Networks by 15.5% during the first quarter. Aristides Capital LLC now owns 162,963 shares of the communications equipment provider’s stock valued at $352,000 after purchasing an additional 21,833 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Ceragon Networks during the first quarter valued at about $911,000. First Wilshire Securities Management Inc. lifted its position in shares of Ceragon Networks by 18.0% during the first quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock valued at $10,485,000 after purchasing an additional 740,358 shares in the last quarter. Finally, R Squared Ltd lifted its position in shares of Ceragon Networks by 71.3% during the first quarter. R Squared Ltd now owns 55,838 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 23,234 shares in the last quarter. 13.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRNT has been the topic of a number of recent research reports. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Craig Hallum reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Ceragon Networks in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Finally, Lake Street Capital began coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 target price for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3.75.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.